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Real Estate Market Situation in Romania in the Context of Economic Crisis

Author

Listed:
  • Negoescu Gheorghe

    (”Ovidius” University Constanta, Faculty of Economic Sciences)

  • Botescu Ion

    (”Ovidius” University Constanta, Faculty of Economic Sciences)

Abstract

It is estimated that the real estate market of 2011 will enter into a so-called real estate crisis, their prices reaching those in 2005-2006 when in Bucharest you could buy a studio comfort I with prices between 15.000 and 20.000 euros, 2 bedroom apartment comfort I could have bought at that time with 20.000 to 25.000 euros and 3 bedroom apartment comfort I could reach 35.000-40.000 Euro. Considering that in Europe and the U.S.A. the price per square foot constructed does not exceed two average wages in the economy would have said above come true, one square meter built in old buildings should not exceed 500 euros.

Suggested Citation

  • Negoescu Gheorghe & Botescu Ion, 2011. "Real Estate Market Situation in Romania in the Context of Economic Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1488-1490, May.
    • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:1488-1490
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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/rezumate2011p1.pdf
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    More about this item

    Keywords

    real estate; crisis; mortgage;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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